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Call Updates

AmerisourceBergen - ABC - close: 68.02 change: +1.21 stop: 64.95*new*

The broad market rally today really helped confirm ABC's rebound from Monday. The stock added 1.8 percent and is within striking distance of or $69.50-70.00 target. We are raising the stop loss to $64.95. 

Picked on June 13 at $ 65.57
Change since picked: + 2.45 
Earnings Date 07/21/05 (unconfirmed)
Average Daily Volume = 1.3 million 

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Ashland Inc - ASH - close: 70.49 chg: +0.29 stop: 66.99

No change from our weekend update.

Picked on June 16 at $ 70.05
Change since picked: + 0.44
Earnings Date 07/25/05 (unconfirmed)
Average Daily Volume = 1.1 million 

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Chubb Corp - CB - close: 86.28 change: +0.10 stop: 82.49

No change from our previous update. 

Picked on June 10 at $ 85.05 
Change since picked: + 1.23
Earnings Date 07/25/05 (unconfirmed)
Average Daily Volume = 1.2 million 

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Rockwell Collins - COL - close: 48.33 chg: +0.95 stop: 46.49 *new*

The defense sector really soared during today's rally. The DFI index added 2.6 percent to rush back toward its recent all-time highs. Shares of COL followed with a two percent gain. If you missed the bullish entry point yesterday we would buy today's bounce. We are raising the stop loss to $46.49. 

Picked on June 27 at $ 46.75
Change since picked: + 1.58
Earnings Date 07/26/05 (unconfirmed)
Average Daily Volume = 800 thousand 

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Cummins Inc - CMI - close: 75.53 change: +2.23 stop: 70.95

A big day in the markets translated into a bigger day for CMI. The stock shot past its 200-dma and rallied toward last week's highs. CMI added 3.16 percent on the session. Our target is the $77.50-80.00 range. 

Picked on June 19 at $ 74.03
Change since picked: + 1.50
Earnings Date 07/21/05 (unconfirmed)
Average Daily Volume = 970 thousand 

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Fording Candn Coal - FDG - cls: 91.03 chg: -3.37 stop: 88.49 *new*

Ouch! Energy stocks were the worst performing sector today and FDG was caught in the stampede lower. Shares gapped down to $93.20 and declined toward $91 before the close. We're expecting the $90.00 level to act as support. Watch for a bounce before considering new positions. We are going to raise the stop loss to $88.49. 

Picked on June 19 at $ 90.30
Change since picked: + 0.73
Earnings Date 07/25/05 (unconfirmed)
Average Daily Volume = 384 thousand 

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Goldman Sachs - GS - close: 103.96 chg: +0.76 stop: 101.89

Ding! The early morning market strength was mirrored in shares of GS, which broke out over resistance at the $104.00 level. The stock hit an intraday high of $104.96. Our entry point to go long was $104.35 so the play is now open. GS' inability to maintain its gains may be a concern and more conservative traders might want to look for a bounce from the $104.00 level before considering new positions. 

Picked on June 28 at $104.35
Change since picked: - 0.39
Earnings Date 06/16/05 (confirmed)
Average Daily Volume = 4.8 million 

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Netease.com - NTES - close: 57.97 chg: +1.27 stop: 55.95 

The market rally certainly helped shares of NTES today. The stock bounced for a 2.2 percent gain. While this might look like a potential bullish entry point we remain cautious given Monday's breakdown and MACD sell signal. 

Picked on June 13 at $ 57.29
Change since picked: + 0.68
Earnings Date 07/26/05 (unconfirmed)
Average Daily Volume = 752 thousand 

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Rio Tinto - RTP - close: 124.30 chg: +0.97 stop: 119.99

No change from yesterday's update.

Picked on June 27 at $123.33
Change since picked: + 0.97
Earnings Date 08/03/05 (unconfirmed)
Average Daily Volume = 160 thousand 

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SLM Corp - SLM - close: 50.77 change: +1.12 stop: 48.95

Today's bounce looks like a new bullish entry point. Just remember that we do not plan on holding past SLM's July earnings report.

Picked on June 20 at $ 50.92
Change since picked: - 0.15
Earnings Date 07/14/05 (unconfirmed)
Average Daily Volume = 1.8 million 

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Wellpoint Inc - WLP - close: 68.49 chg: +0.92 stop: 65.90 

Traders might want to consider bullish positions here but we'd probably before to see a little more follow through on the rebound first.

Picked on June 05 at $ 68.40
Change since picked: + 0.09 
Earnings Date 07/27/05 (unconfirmed)
Average Daily Volume = 3.5 million

Put Updates

Ambac Fincl. - ABK - close: 70.65 chg: +1.33 stop: 71.51

ABK produced a pretty good bounce on Tuesday but remains under its trend of lower highs. While the trend remains bearish we would be very careful here with ABK above the $70.00 level. More conservative traders may want to exit to avoid further losses.

Picked on June 26 at $ 69.62
Change since picked: + 1.03
Earnings Date 07/20/05 (unconfirmed)
Average Daily Volume = 992 thousand 

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ESCO Tech. - ESE - close: 101.49 chg: +1.52 stop: 102.51

This is looking more and more dangerous for the bears with ESE pushing back above the $100.00 mark. We are not suggesting new plays and conservative traders may want to exit early. 

Picked on June 26 at $ 97.80
Change since picked: + 3.69
Earnings Date 08/10/05 (unconfirmed)
Average Daily Volume = 102 thousand

Dropped Calls

None

Dropped Puts

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